Conversion Report
Today 120.432 SBD was converted!
Individual conversions in progress can be searched here: https://steemdb.com/labs/conversions
Total conversions in progress can be seen at: https://steemitwallet.com/@sbdpotato
Vote for this post to help fix the Steem Dollar Peg!
In case you missed it; here is THE LINK to the intro post about @sbdpotato.
TLDR, you vote for @sbdpotato's daily posts and the rewards @sbdpotato earns will be used to purchase SBD on the internal market, convert it to STEEM (reducing the SBD supply) and then the converted STEEM will be used in a circular fashion to purchase more SBD - Rinse Repeat! That's basically it!
Today's SBD Price (Spot): 0.597 USD
Current Debt Ratio: 15.61%
Target Debt Ratio: 9.90%
What do you get out of supporting @sbdpotato?
Well firstly by voting this post you will be helping fix SBD to get it pegged to 1 USD again as it was meant to, this could also help bring the STEEM price up with it. There is a theory that the two are circular, a strong SBD gives support to healthier STEEM prices, perhaps due to positive sentiment in the network.
In addition to doing your part to improve the economy of the Steem network, you will also earn SP curation rewards from voting the post that hopefully get decent traction.
You can set the @sbdpotato account on autovote using a service like beta.steemvoter, by creating a stream to autovote the @sbdpotato account at around 4 or 5 minutes as per the screenshot below. There are also other autovoter services you can use if you prefer.
Conclusion and Disclaimer
All images used a royalty-free, courtesy of pixabay.com.
As custodian of this project I, @thecryptodrive, will not derive any monetary value therefrom and undertake this under my duty as Steem consensus witness and ambassador.
I hope the Steem community will embrace this idea of supporting the SBD peg by voting the @sbdpotato posts regularly, alone we are powerless, together we can bring about change.
Sponsors
If you would like to have your banner featured on the daily posts, simply upload your banner in our comments sectiona and pledge to vote for @sbdpotato daily and/or include @sbdpotato as a beneficiary of your own posts!
Additional comment #1
Additional Comment #2
I never knew SBD was trying to peg 1:1 to USD like a stablecoin. When I first joined Steemit SBD was $13 USD. Those were the days.
Yeah I agree, and in those days everyone was worried that it was overvalued and wanted to bring it back down :P
What a great problem to have 🙃
Hi @thecryptodrive - do you have any automated system for the conversion?:)
Nope all manual for now, maybe we can chat in the new year and see what can be done. Bit crazy now during the festive season.
Let me know where I can find you on discord ;)
https://discord.buildteam.io username thecryptodrive#8144
I think the bank.sbd bot is glitched, sbd not returned yet.
Yeah, vps crashed, already refunded.
I see SBD conversion option but can it sell STEEM automatically? https://steemit.com/sbd/@howo/steem-reward-manager-update-power-down-fixes-and-convert-sbd-option
Needs bot/script to do that :)
Can anyone here explain what SBD is
Posted using Partiko Android
Steem Backed Dollar, basically SBD's are a wrapper for an equal value of Steem giving it it's value, that's the best I can explain it, check out the whitepaper.
Congratulations @sbdpotato!
Your post was mentioned in the Steem Hit Parade in the following category:
This post earned a total payout of 40.163$ and 30.198$ worth of author reward which was liquified using @likwid. To learn more.
Additional comment #4
Posted using Partiko iOS
xD
Sneaky :)
💓